1. JOB PURPOSE

The Chief Financial Officer (CFO) is responsible for providing strategic financial leadership and ensuring sound financial management, financial reporting, treasury management, budgeting, financial controls, tax compliance and financial sustainability of Savanna PayPulse Limited.

The CFO will oversee the Company’s financial resources while ensuring appropriate segregation between the Company’s operational funds and customer funds held in Trust Accounts.

The role will ensure accurate and timely financial reporting and compliance with applicable accounting standards, tax requirements, Bank of Uganda requirements, the National Payment Systems regulatory framework and the Company’s internal financial policies and controls.

2. KEY RESPONSIBILITIES:

A. Financial Strategy and Leadership

• Develop and implement the Company’s financial strategy.
• Provide financial advice to the CEO, Board and Management.
• Ensure the Company’s financial resources are effectively planned and managed.
• Develop financial policies, procedures and internal controls.
• Monitor the Company’s financial sustainability, liquidity and profitability.
• Provide financial analysis to support strategic and commercial decisions.

B. Financial Planning and Budgeting

• Lead the annual budgeting and financial planning process.
• Prepare annual budgets, forecasts and financial projections.
• Monitor actual performance against approved budgets.
• Investigate material variances and recommend corrective actions.
• Develop financial models and scenario analyses for major business initiatives.
• Provide financial input into new products, partnerships, investments and strategic projects.

C. Financial Reporting and Accounting

• Ensure accurate and timely preparation of management accounts and financial statements.
• Maintain appropriate accounting records in accordance with applicable accounting standards.
• Oversee general ledger, accounts payable, accounts receivable, payroll and financial reconciliations.
• Ensure financial transactions are properly authorised, recorded and supported.
• Coordinate preparation for external audits.
• Ensure audit findings relating to finance are addressed promptly.

D. Treasury and Bank Account Management

• Oversee the Company’s treasury and cash-management activities.
• Monitor liquidity and ensure availability of funds for operational obligations.
• Manage relationships with commercial banks and other financial institutions.
• Oversee bank account administration and authorised signatory arrangements.
• Monitor bank charges, interest, settlements and other banking costs.
• Ensure appropriate controls over payments, transfers and cash management.

E. Customer Funds and Trust Account Financial Oversight

• Maintain clear segregation between customer funds and the Company’s operational funds.
• Oversee financial controls relating to Trust Accounts and customer funds.
• Ensure Trust Account balances are appropriately reconciled to customer e-money liabilities in coordination with Operations and Finance.
• Monitor the adequacy of customer-fund backing and escalate any discrepancies immediately.
• Ensure customer funds are not used to meet the Company’s operational expenses or other obligations.
• Support preparation of Trust Account financial and regulatory reports.
• Ensure appropriate accounting treatment and records for Trust Account-related balances and transactions.

F. Financial Controls and Governance

• Establish and maintain effective financial internal controls.
• Ensure appropriate segregation of duties within Finance.
• Ensure payment approvals and financial delegations are properly implemented.
• Monitor expenditure against approved budgets and authority limits.
• Implement controls over procurement, payments, expenses and assets.
• Identify and escalate financial control weaknesses and suspected financial irregularities.
• Work with Internal Audit and Risk & Compliance on financial control matters.

G. Tax and Statutory Compliance

• Ensure timely and accurate tax computation, filing and payment.
• Oversee compliance with applicable Uganda Revenue Authority requirements.
• Monitor withholding tax, VAT, corporation tax, payroll taxes and other applicable obligations.
• Maintain appropriate tax records and supporting documentation.
• Coordinate responses to tax audits and assessments.
• Identify tax risks and implement appropriate mitigation measures.

H. Revenue and Financial Performance Management

• Monitor revenue, transaction economics, costs and profitability.
• Analyse revenue streams across customers, agents, merchants and products.
• Monitor transaction fees, commissions, bank charges and other commercial costs.
• Provide financial analysis of products and strategic partnerships.
• Support the CCO and Management with pricing and profitability analysis.
• Identify opportunities for cost optimisation and improved financial efficiency.

I. Financial Risk Management

• Identify and manage financial risks including liquidity, settlement, credit, foreign exchange, fraud and financial control risks.
• Establish appropriate financial risk monitoring and reporting.
• Ensure adequate controls over financial transactions and settlement processes.
• Escalate material financial risks to the CEO and relevant Board committees.
• Work with Risk & Compliance to ensure financial risks are appropriately incorporated into the Company’s risk framework.

J. Regulatory and Management Reporting

• Ensure timely preparation and submission of financial and regulatory reports.
• Support compliance with Bank of Uganda reporting requirements applicable to the Company’s licensed activities.
• Ensure financial information submitted to regulators is accurate, complete and supported.
• Prepare regular financial reports for Management and the Board.
• Ensure regulatory and audit queries relating to financial matters are addressed within required timelines.

K. Procurement and Financial Oversight

• Provide financial oversight over procurement and major expenditure.
• Ensure procurement decisions are within approved budgets and authority levels.
• Review financial implications of significant contracts and commitments.
• Monitor supplier payments and outstanding obligations.
• Support effective contract and expenditure management.

3. KEY PERFORMANCE INDICATORS (KPIs)

• Timeliness and accuracy of monthly and annual financial reports.
• Budget preparation and approval within required timelines.
• Budget variance and corrective-action management.
• Timeliness and accuracy of statutory and tax filings.
• Bank and financial reconciliations completed within approved timelines.
• Accuracy and timeliness of Trust Account/customer-fund reconciliations.
• Liquidity and cash-flow management.
• Reduction in financial control weaknesses and recurring audit findings.
• Timely closure of finance-related audit and regulatory findings.
• Revenue and profitability reporting accuracy.
• Cost-control and budget-performance improvements.
• Accuracy and timeliness of regulatory financial reports.
• External audit completion and resolution of audit findings.

4. QUALIFICATIONS & EXPERIENCE:

A. Education

• Bachelor’s Degree in Accounting, Finance, Economics, Business Administration or a related field.
• Master’s Degree in Finance, Accounting, Business Administration or a related field is desirable.

B. Professional Qualifications

A professional qualification in one or more of the following is required/desirable:

• CPA
• ACCA
• CFA
• Certified Treasury Professional or equivalent
• Other recognised financial management qualification
• CFO must be a member of ICPAU as a requirement by law, the Accountant Act Cap 294.

C. Experience

• Minimum 8–10 years’ relevant finance and accounting experience, with at least 5 years in a senior financial management role.
• Experience in one or more of the following sectors is preferred:
  • Fintech
  • Banking
  • Payment Service Providers
  • Mobile Money
  • Telecommunications
  • Financial Services
• Strong experience in financial reporting, treasury, budgeting, taxation and financial controls.
• Experience managing high-volume transaction environments is highly desirable.
• Experience with customer funds, trust/safeguarding arrangements and payment settlements is an advantage.
• Experience working in a Bank of Uganda-regulated environment is highly desirable.

5. KEY COMPETENCIES

• Strong financial and strategic leadership.
• Strong accounting and financial reporting knowledge.
• Strong treasury and liquidity-management skills.
• Strong understanding of payment and digital financial services.
• Knowledge of customer-fund safeguarding and settlement processes.
• Strong analytical and financial modelling skills.
• Strong understanding of financial controls and governance.
• Knowledge of Uganda tax and regulatory requirements.
• Strong risk-management and problem-solving abilities.
• Strong attention to detail and accuracy.
• Strong communication and stakeholder-management skills.
• High level of integrity, confidentiality and professional judgement.
• Strong leadership and people-management skills.

6. AUTHORITY

The Chief Financial Officer shall have appropriate authority, within approved delegations and financial policies, to oversee financial management, budgeting, treasury, financial reporting, expenditure controls and financial risk management.

The CFO shall ensure that customer funds are maintained separately from Savanna PayPulse Limited’s operational funds and shall not authorise the use of customer funds for corporate or operational expenditure.

The CFO shall have direct access to the Chief Executive Officer and relevant Board committees on material financial, treasury, safeguarding, audit and financial-control matters.

7. CORE DELIVERABLES

The Chief Financial Officer will be responsible for maintaining and producing, as applicable:

• Annual Financial Strategy and Plan.
• Annual Budget and Financial Forecasts.
• Monthly Management Accounts.
• Annual Financial Statements.
• Cash Flow and Liquidity Reports.
• Bank Reconciliation Reports.
• Trust Account and Customer-Fund Reconciliation Reports.
• Revenue and Profitability Reports.
• Tax Compliance Reports.
• Regulatory Financial Reports.
• Financial Risk Reports.
• Budget Variance Reports.
• Procurement and Expenditure Reports.
• External Audit Coordination Reports.
• Finance Policies and Procedures.
• Board Finance Reports.
• Annual Financial Performance Report.

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